What the 2007 TAC Market Design Game Tells Us About Effective Auction Mechanisms

Jinzhong Niu, Kai Cai, Simon Parsons, Peter McBurney, and Enrico Gerding. What the 2007 TAC Market Design Game Tells Us About Effective Auction Mechanisms. Journal of Autonomous Agents and Multiagent Systems, 21(2):172–203, 2010. Long version available for download. Official version is available at publisher's website.

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Abstract

This paper analyzes the entrants to the 2007 TAC Market Design Game. We present a classification of the entries to the competition, and use this classification to compare these entries. The paper also attempts to relate market dynamics to the auction rules adopted by these entries and their adaptive strategies via a set of post-tournament experiments. Based on this analysis, the paper speculates about the design of effective auction mechanisms, both in the setting of this competition and in the more general case.